$BTC Take a look at the BTC four-hour chart—this is now a typical weak range-bound move: the price is capped below the middle band; it can’t push up with momentum, and on the downside it’s also not clean or decisive. Resistance overhead sits like a lid on top of it. Every rebound is discounted; although there is support below, it’s clearly just propping things up to stop the drop from getting too fast—it’s not a real push higher. Bulls and bears are stuck here grinding it out, but the initiative is in the hands of the bears. As long as the price doesn’t reclaim that key resistance zone from above, it’s basically a rebound-then-short-selling structure. The way it’s moving right now looks more like a downtrend continuation—once it’s bled off its energy, it still needs to move lower again.

BTC0.21%
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